Fiat Chrysler turns to 1.7 billion euro loss in first quarter on virus crisis

MILAN (Reuters) – Fiat Chrysler said on Tuesday it turned to a net loss in the first quarter as a consequence of the crisis triggered by the spread of the coronavirus.

“The pandemic has had, and continues to have, a significant impact on our operations,” Fiat Chrysler (FCA) said in a statement.

The Italian American carmaker said its net loss from continuing operations amounted to 1.69 billion euros ($1.83 billion) in the first quarter of this year.

That compares with a 508 million euro net profit a year earlier.

FCA added that due to the continued uncertainty related to the COVID-19 pandemic, it withdrew its full-year guidance for 2020 and would update it when it would have a better visibility of the overall impact of the crisis.

(Reporting by Giulio Piovaccari, editing by Stephen Jewkes)